MIP (Mortgage Insurance Premium) is a unique aspect of HUD/FHA insured multifamily loans. The reason it exists is to support the federal program that underwrites and ultimately guarantees FHA multifamily loans that offer the richest terms in the industry.
MIP is a monthly payment based on the outstanding balance of the loan at the beginning of each year. The year isn’t based on the calendar, rather every 12 months during the life of the loan. The MIP on the 223(f) […]